Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
  • About us
  • Support us
  • Contact Us
  • Intelligence
  • Advertising
  • Newsletter
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
News

Traders cleared of wrongdoing in EEB share price drop

by Toni Peters January 19, 2012

Colombia Reports - economy

Colombia’s financial regulator has ruled out any wrongdoing by traders or investors during the sudden drop of EEB share prices in December.

The investigation was sparked after Bogota‘s state-owned electricity company EEB’s share price dropped by 17% in three days.

The fall followed an announcement by Bogota Mayor Gustavo Petro that a planned merger between EEB and Bogota’s state-owned telecommunications and water companies, ETB and EAB — a merger that was one of his manifesto promises — would go ahead.

The financial regulatory body said “An investigation was carried with the aim of corroborating or ruling out the possibility of abusive conduct in the market in relation to the negotiating of ordinary shares of the Empresa de Energia de Bogota S.A. during the days December 5, 6 and 7, 2011.”

The financial regulator analyzed 998 transactions made by approximately 538 investors through 21 brokerage firms. Almost 34 million shares were sold for a total of $21.2 million.

Petro, meanwhile, is to be investigated by the Prosecutor General’s Office for allegedly committing the financial crime of “giving false or incorrect information which affects the value of shares.”

 

BogotaeebetbGustavo Petro

Trending

  • Colombia’s main cities shut down as COVID threatens to collapse healthcare

  • Colombia’s capital Bogota to lock down for another weekend

  • What COVID taught Colombia about cocaine | Part 1: the tsunami

Weekly interviews and news updates

Related articles

  • Colombia’s capital Bogota to lock down for another weekend

  • Bogota and Medellin lock down as COVID saturates Colombia’s hospitals

  • Colombia reinstates COVID restrictions during holidays

  • Facebook
  • Twitter
  • Linkedin
  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top